I had rental property that I gave back to the bank, how is this reported?

wwilliams · ‎June 4, 2019

The property was 800 miles away and my daughter was managing it. She passed away and although I made trips there and did maintenance, with her gone and us getting close to retirement I wanted out. The simplest way without losing alot of money was to hire a lawyer and negotiate them taking possession. I am guessing selecting sold in 2017 isn't correct, so what is?

IreneS · ‎June 4, 2019

Mark Sold. While you didn't dispose of the property in a "normal" sale, you did sell it to the bank.

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IreneS · ‎June 4, 2019

Mark Sold. While you didn't dispose of the property in a "normal" sale, you did sell it to the bank.

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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I had rental property that I gave back to the bank, how is this reported?